There is a rapid surge in use of plastic money these days. People are using this mode more than currency. Use<font color=”rgba(0, 0, 0, 0)” face=”inherit”> of credit, debit card has become daily need in urban areas as well as rural </font>areas. This<font color=”rgba(0, 0, 0, 0)” face=”inherit”> essay is going to examine the pros and cons of using plastic money.</font>
Firstly, in today’s digital era large number of people are using plastic money as they find it convenient. For instance, wallets are cash is not being carried by them when they are going outside of shopping. However, by using plastic money there is no chance of stealing the money: For example, earlier it has been observed that cases are going downward. Furthermore, It would be less to say that public is getting lot of attractive offers and discounts on using their credit cards either it is online shopping or offline shopping. For these reasons, individuals are making use of plastic money rather than bank notes.
On the other hand, There are still some areas where facility of using plastic money is unavailable then one will need cash to transact. In addition, cyber crime rate is increasing nowadays as a result, number of people are getting victims of fraud. For example, some are reporting that hackers are withdrawing’s their money by just asking an OTP. Therefore use of plastic money is less secure than bank notes.
To conclude, using plastic money is better way to transact these days as it is convenient for everyone whereas it has number of consequences likewise fraud, cyber crime and some other thing which is creating it less secure.
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